IMF flags high public debt in Middle East oil exporters
Oil producers in the Mena region are expected to average budget deficits of 4% of GDP in 2019
Oil producers in the Middle East and Northern Africa (Mena) face a challenging fiscal outlook as the oil market becomes increasingly volatile, says the International Monetary Fund (IMF).
In a focus report published on April 29, the IMF links higher public debt in economies such as Algeria and Saudi Arabia with less predictable oil prices, their main source of revenues. Against this backdrop, the fund recommends authorities resume fiscal consolidation efforts.
“Lower oil prices with bouts of
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